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Company No: 07717293 (England and Wales)

BIOMETRICS INSTITUTE LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

BIOMETRICS INSTITUTE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

BIOMETRICS INSTITUTE LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2023
BIOMETRICS INSTITUTE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTOR Ms I Moeller
REGISTERED OFFICE 66 Prescot St
London
E1 8NN
England
United Kingdom
COMPANY NUMBER 07717293 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
66 Prescot Street
London
E1 8NN
United Kingdom
BIOMETRICS INSTITUTE LIMITED

BALANCE SHEET

As at 30 June 2023
BIOMETRICS INSTITUTE LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 18,111 0
Tangible assets 4 3,192 1,608
21,303 1,608
Current assets
Debtors 5 47,919 37,465
Cash at bank and in hand 36,903 39,665
84,822 77,130
Creditors: amounts falling due within one year 6 ( 106,125) ( 78,738)
Net current liabilities (21,303) (1,608)
Total assets less current liabilities 0 0
Net assets 0 0
Reserves
Total reserves 0 0

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Biometrics Institute Limited (registered number: 07717293) were approved and authorised for issue by the Director on 19 March 2024. They were signed on its behalf by:

Ms I Moeller
Director
BIOMETRICS INSTITUTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
BIOMETRICS INSTITUTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Biometrics Institute Limited (the Company) is a private company, limited by guarantee, incorporated in England and Wales. The registered address office is 66 Prescot Street, London, E1 8NN, England, United Kingdom. The Company does not have formal office premises in the UK, however principal place of business of the guarantor company is Suite 5.02, Level 5, 655 Pacific Highway, St Leonards, Sydney, Australia, NSW 2065.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the companies Act 2006 as applicable to companies subject to all small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary accounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Turnover

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Taxation

Current tax
The company is exempt from corporation tax it being a company not carrying on a business for the purposes of making a profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in {#profit} or {#loss}, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 3

3. Intangible assets

Computer software Total
£ £
Cost
At 01 July 2022 0 0
Additions 19,444 19,444
At 30 June 2023 19,444 19,444
Accumulated amortisation
At 01 July 2022 0 0
Charge for the financial year 1,333 1,333
At 30 June 2023 1,333 1,333
Net book value
At 30 June 2023 18,111 18,111
At 30 June 2022 0 0

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 July 2022 4,513 4,513
Additions 3,056 3,056
Exchange adjustmets ( 342) ( 342)
At 30 June 2023 7,227 7,227
Accumulated depreciation
At 01 July 2022 2,905 2,905
Charge for the financial year 1,350 1,350
Exchange adjutments ( 220) ( 220)
At 30 June 2023 4,035 4,035
Net book value
At 30 June 2023 3,192 3,192
At 30 June 2022 1,608 1,608

5. Debtors

2023 2022
£ £
Trade debtors 19,542 21,488
Other debtors 28,377 15,977
47,919 37,465

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 9,017 15,747
Amounts owed to Parent undertakings 60,490 49,715
Other taxation and social security 10,100 7,726
Other creditors 26,518 5,550
106,125 78,738

7. Liability of members

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.